Marimaca Oxide Deposit

Single open-pit copper oxide and mixed sulphide deposit. Located approximately 25 km west of the port of Mejillones and 45 km north of Antofagasta, accessed via Route 1 and a gravel road; power available from the Mejillones grid and water to be supplied via a seawater pipeline. Property comprises 20 mining concessions covering approximately 961 hectares, encumbered by a 1.0% NSR to Osisko Gold Royalties and other historical royalties. Hosted in the Naguayán Stock with mineralization consisting of a copper oxide blanket exposed at surface. Discovered in 2016 by the current operator. Three-stage crushing circuit feeds an agglomeration and dynamic heap leaching process, followed by SX/EW. August 2025 DFS outlines a 50 ktpa copper cathode operation over a 12.7-year LOM, with initial capex of US$587M and post-tax NPV8% of US$709M / IRR of 30.9% at US$4.30/lb Cu. RCA environmental permit received in November 2025. Flagship Chilean copper asset.